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Las Vegas Sands agrees to pay Steve Jacobs $75 million in a settlement deal
ADELSON GROUP CRIES UNCLE IN LITIGATION WITH FORMER MACAU SENIOR EXECUTIVE
Las Vegas Sands agrees to pay Steve Jacobs $75 million in a settlement deal.
Sheldon Adelsons Las Vegas Sands Corp. has agreed to pay more than $75 million to settle a lawsuit by its former top Macau executive, Steve Jacobs, whose allegations prompted federal bribery investigations into the company, according to a report in the Wall Street Journal Tuesday.
The Las Vegas-based online gambling group settled the almost six-year wrongful termination judicial dispute lodged by Jacobs, the former CEO of Sands China
Sands China filed papers with the Hong Kong Stock Exchange announcing the settlement, observing:
“On or about May 31, 2016, the parties to the Proceedings reached a comprehensive and confidential settlement through which Mr. Jacobs dismissed all claims in the Nevada state and federal cases against our controlling shareholder, Las Vegas Sands Corp., the Company, our subsidiary Venetian Macau Limited, and Mr. Sheldon Gary Adelson and released all claims as of that date.”
The now abandoned action saw LVS fighting to avoid the Las Vegas courts exercising jurisdiction over the termination of Jacobs; some testy exchanges between Adelson and the presiding judge in Las Vegas, Elizabeth Gonzales, and an unsuccessful attempt by LVS to have the judge taken off the case.
There were also some startling revelations on how LVS operations in Asia were handled, which attracted the attention of the authorities and resulted in LVS paying hefty multi-million dollar state and federal regulatory fines.
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
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Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.
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At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000
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